The Fastest Growing Industries in the US Today
For the next generation looking to enter the working world, it is important to find a career path that will give students the best opportunity for stability in such unstable times. After the innovation and transformation of businesses in the past decade, it’s integral to understand the business community and what industries seem to be thriving while others are thwarted. According to the Dantify Team, it’s been found that three of some of the fastest growing industries in the US today are the transportation industry, banking services, and the technology industry.
The Transportation Industry
The transportation industry has become very popular in recent years, especially after the pandemic. Due to the nationwide lockdowns, people yearned to travel, and to appreciate the world around them before it was taken away from them, yet again. Therefore, travel industries, such as international and domestic airlines, tour operators, and travel agencies, have been thriving, and have had a substantial amount of growth in the past year alone. The estimated revenue growth from 2021-2022 for international airlines alone was 61.3%. The number of businesses and employment in the industry has risen quickly, so it should definitely be an industry to consider a future job in (unless of course another pandemic hits).
The Banking Industry
Another industry that seems to be thriving in recent years has been the banking industry. Merchant banking services have been steadily climbing in revenue and in demand in the past two years, and are expected to continue to grow over the next five years in foreign trade finance, transnational facilitation services, and corporate investment. Not only that, but the lending aspect of banking services had increased as well, impacting not only banking institutions, but all lending industries, including insurance and auto lending services. After the pandemic, loans were integral to keep small businesses and companies alive, which makes this field very important to the culture of the world around us. The revenue growth for this service has increased by over 30% in the past year, and has made this industry a very popular career path for young students.
The Technology Industry
Lastly, with one of the greatest impacts on the working world as we know it, is the technology industry. The expected growth rate between 2022-2030 is about 38.1%, according to the Market Analysis Report. This not only has grown on its own, with high advances in software and hardware, but it has helped other industries grow as well. One example is the use of websites and apps that facilitate transportation deals for many companies, which helps increase the expansiveness of transportation services. Another is how AI software has completely changed banking services, particularly lending services, and advanced to new levels of growth in revenue. Scorelate, for instance, has completely changed the lending industry, providing a completely automated service that benefits financial institutions in order to predict future outcomes in risky deals and hence, make it the most profitable deal for them. The industry continues to grow and thrive, especially due to the need for communication to the people around us and for work purposes during the pandemic. Therefore, a career in the artificial intelligence realm should be heavily considered by young adults seeking employment in a post-pandemic world.